The methodology of positive economics -- The Marshallian demand curve -- The "Welfare" effects of an income tax and an excise tax -- The effects of a full-employment policy on economic stability: A formal analysis -- A monetary and fiscal framework for economic stability -- The case for flexible exchange rates -- Commodity-reserve currency -- Discussion of the inflationary gap -- Comments on monetary policy -- Lange on price flexibility and employment: A methodological criticism -- Lerner on the economics of control

Includes bibliographical references and index

This paper is concerned primarily with certain methodological problems that arise in constructing the "distinct positive science" that John Neville Keynes called for, in particular, the problem how to decide whether a suggested hypothesis or theory should be tentatively accepted as part of the "body of systematized knowledge concerning what is."

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